ANNUAL PERCENTAGE RATES: With your application, our service providers may charge you the following rates: Interest rates: (RR x 2.2) + 20% per year. Initiation Fee: R150 per credit agreement, plus 10% of the amount of the Agreement in excess of R1000-00 but never exceed R1000-00. Monthly service Fee: R50-00 Please note that this calculation of interest and fees is a guideline and subject to each lenders credit granting policy.
NON-PAYMENT OF CREDIT AGREEMENT: If there is an collection attempt declined by your bank, they will do their best to contact you through the day. They will try to resolve the situation that day but your bank may charge you for not having the funds available in your account. Interest and fees will continue to mount on your balance for up to 90 days if they can't reach a agreement in the meantime. Continued failure to repay a loan will result in a negative impact to your credit record. Records remain on file for a number of years after they are closed, whether settled by you or defaulted.
RENEWAL POLICY: We do assist clients with more than 1 active loan as long as your current loan is up to date. After you made 1 or more installments depending on which credit provider we deal with, we can offer you second and third loans if you are not in arrears, all other loans will be put through the same criteria as the first loan according to NCR rules and loan renewals are NOT AUTOMATIC.